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Cometa falls from the sky

May 19, 20043 mins

Latest financial news.

Cometa falls from the sky, 05/18/04

Cometa Networks plans to announce Wednesday that it will shut down, after its investors and board of directors decided to pull the plug on the fledgling Wi-Fi hot spot service provider, a spokeswoman …

HP Q2 revenue up on strong software sales, 05/18/04

Spurred by strong sales in its personal systems and software groups, HP on Tuesday reported revenue of $20.1 billion and net earnings of $884 million for the second quarter of its fiscal 2004 year, which …

Hammerhead, CoSine ally with Fujitsu, 05/18/04

Fujitsu is broadening a marketing alliance designed to transition carriers from legacy to new services and infrastructures.

Sun chooses head for x86 division, 05/18/04

One month after a major executive shake up at Sun, the dust appears to be settling a bit. The company has now appointed former Chief Technology Officer of Software John Fowler as executive vice …

Lucent settles with SEC, is hit with $25 million fine, 05/18/04

Federal regulators charged Lucent on Monday with conducting an accounting fraud of over $1.1 billion, amid allegations that employees falsified documents, cut secret deals with customers …

MCI cuts 7,500 more jobs, 05/17/04

As its revenue continues to slip, MCI is set to lay off another 7,500 employees by next month, a purge that would bring the company’s total job cuts to 34,500 – almost half the workforce – in just less than two years.

Opinion: MCI’s marching orders, 05/17/04

When WorldCom went into Chapter 11, image tarnished with accounting issues, it was a milestone in the telecom industry, a kind of official ending for the bubble period. Now MCI has been reborn, and its re- …

Oracle cuts PeopleSoft offer to $7.7 billion, 05/14/04

Oracle has reduced its offer to acquire PeopleSoft to $21 per share, or approximately $7.7 billion, in order to bring the offer in line with the reduced value of PeopleSoft’s shares, Oracle said Friday.

Grand jury subpoenas Nortel documents, 05/14/04

A federal grand jury in Texas has issued a subpoena for documents, including financial statements and accounting records, from Nortel, the company announced Friday.

Intel’s Fister named CEO at Cadence Design Systems, 05/14/04

Mike Fister, formerly head of Intel’s server processor group, left the company this week to become president and CEO of Cadence Design Systems, Cadence said Wednesday.

SBC president resigns, 05/14/04

SBC President William Daley resigned this week, shortly after SBC named a new COO.

HP buys two service management firms, 05/13/04

Continuing its acquisition spree, HP this week announced it is buying two companies that specialize in IT best practices.

Dell Q1 revenue, net income up sharply once again, 05/13/04

Dell’s first-quarter revenue and net income soared on strong sales of high-margin products such as servers and notebooks, the company said Thursday.